The Chicago-based company, which went public in January 2005, reported net income of $18.0 million, or 29 cents a share, from $9.8 million, or 16 cents per share a year earlier. Revenue grew 73 percent to a record $46.4 million.

The results matched the average analyst estimate of 29

cents a share, according to Reuters Estimates.

Created in 2000, the company offers low-cost online trading of U.S. stocks, bonds and equity options. OptionsXpress also has overseas operations in Canada, Australia and Singapore.

But OptionsXpress faces stiff competition from much larger online rivals such as E*trade Financial Corp. and TD Ameritrade Holding Corp. that have focused on the options trading space by improving their offerings and reducing option-trading fees.

An increase in daily average revenue trades (DARTs) contributed to the rise in revenues. In the first quarter, the average number of trades per account were 43 on an annualized basis, up from 39 in the fourth quarter.

As a result of the increased activity and account growth, DARTs were 29,400 in the first quarter, up 78 percent from 16,500 in the first quarter of 2005, the company said.